AuKing Mining Ltd managing director Paul Williams talked with Proactive about the company’s imminent completion of the Cloncurry Gold Project acquisition in northwest Queensland. The transaction, described as a “transformative” move for AuKing, is now fully funded and expected to settle in early November.
Williams explained that the structure of the deal involves Orion Resources acquiring the gold assets, followed by AuKing acquiring 100% of Orion's shares. “There is now certainty around the acquisition and around the financial close of that acquisition,” he said.
The Cloncurry portfolio includes the Lorena gold processing plant and a range of mining leases with historical operations. Williams noted that a new mineral resource estimate is due within weeks and highlighted the project’s potential for near-term gold production.
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